President Donald Trump hosted a major event on the White House South Lawn, standing alongside Tesla CEO Elon Musk and displaying multiple Tesla vehicles, including a Cybertruck, Model Y, and Model S. As Tesla stock has struggled in recent months due to declining European sales and Musk’s growing role in the administration, Trump took it upon himself to boost confidence in the company.

Declaring that any violence against Tesla dealerships would be considered domestic terrorism, he also announced his own purchase of a Cybertruck for his granddaughter. Trump emphasized that Musk was being unfairly targeted for his political views, calling him a “patriot” and condemning boycotts against the company as illegal.

Following the event, Tesla’s stock rebounded, closing up 3.8% for the day.